Question 1

an organization's perspective regarding its new products and innovations,which of the following new-product strategies has the highest level of risk?

Accepted Answer

A)  a radical invention 
B)  a brand extension 
C)  a product line extension 
D)  a jump in innovation 
E)  a product deletion 
A)  a radical invention 
B)  a brand extension 
C)  a product line extension 
D)  a jump in innovation 
E)  a product deletion

Question 2

Business analysis refers to the stage of the new product process

Accepted Answer

A)  where the target markets are selected and resources are allocated to reach them. 
B)  where the target market segments that show potential are selected and those that do not are eliminated. 
C)  that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections. 
D)  where there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI) that the new product will give back to the firm. 
E)  that internally and externally evaluates new-product ideas to eliminate those warranting no further effort. 
A)  where the target markets are selected and resources are allocated to reach them. 
B)  where the target market segments that show potential are selected and those that do not are eliminated. 
C)  that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections. 
D)  where there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI) that the new product will give back to the firm. 
E)  that internally and externally evaluates new-product ideas to eliminate those warranting no further effort.

Question 3

Market testing refers to

Accepted Answer

A)  exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy. 
B)  making sales and profit projections on prototype products to make go-no-go decisions. 
C)  conducting marketing research among a sample of consumers in the target market to determine which version of a new-product concept is deemed the best. 
D)  independently run comparison tests with similar products currently in the marketplace to determine which one performs best. 
E)  conducting safety tests to determine whether the new product meets the established requirements when it isn't used as planned. 
A)  exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy. 
B)  making sales and profit projections on prototype products to make go-no-go decisions. 
C)  conducting marketing research among a sample of consumers in the target market to determine which version of a new-product concept is deemed the best. 
D)  independently run comparison tests with similar products currently in the marketplace to determine which one performs best. 
E)  conducting safety tests to determine whether the new product meets the established requirements when it isn't used as planned.

Question 4

Among business products,supplies usually consist of

Accepted Answer

A)  items as pens, batteries, and light bulbs. 
B)  buildings and fixed equipment. 
C)  items used in the manufacturing process and become part of the final product. 
D)  tools and office equipment. 
E)  raw materials and component parts. 
A)  items as pens, batteries, and light bulbs. 
B)  buildings and fixed equipment. 
C)  items used in the manufacturing process and become part of the final product. 
D)  tools and office equipment. 
E)  raw materials and component parts.

Question 5

Which of the following best illustrates the concept of derived demand?

Accepted Answer

A)  The number of retail stores in a downtown area decreases as demand for retail goods increases. 
B)  An increase in the number of new, single-family homes results from a spurt in the gross national product. 
C)  The heat wave results in an increased demand for air conditioners. 
D)  Container manufacturers experience an increase in sales because more HDTVs from Japan and South Korea are being sold in the U.S. and must be transported by ship in containers. 
E)  Honda reducing its car prices causes GM to do the same. 
A)  The number of retail stores in a downtown area decreases as demand for retail goods increases. 
B)  An increase in the number of new, single-family homes results from a spurt in the gross national product. 
C)  The heat wave results in an increased demand for air conditioners. 
D)  Container manufacturers experience an increase in sales because more HDTVs from Japan and South Korea are being sold in the U.S. and must be transported by ship in containers. 
E)  Honda reducing its car prices causes GM to do the same.

Question 6

product mix refers to

Accepted Answer

A)  all of the different product lines offered by an organization. 
B)  the variations within a product class. 
C)  a specific product SKU that has a unique brand, size, or price. 
D)  a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. 
E)  the entire product category or industry. 
A)  all of the different product lines offered by an organization. 
B)  the variations within a product class. 
C)  a specific product SKU that has a unique brand, size, or price. 
D)  a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. 
E)  the entire product category or industry.

Question 7

tool available for services when dealing with capacity management is to use __________ to charge different prices during different times of the day or the week to balance supply and demand.

Accepted Answer

A)  off-peak pricing 
B)  variable hours of operation-opening or closing a store at different times 
C)  sales promotion incentives such as coupons 
D)  build-to-order service delivery systems 
E)  rationing 
A)  off-peak pricing 
B)  variable hours of operation-opening or closing a store at different times 
C)  sales promotion incentives such as coupons 
D)  build-to-order service delivery systems 
E)  rationing

Question 8

Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.The Love Bandit Bear is designed for people to give to each other on Valentine's Day.The unique identification number that the Vermont Teddy Bear Company uses to distinguish this Teddy bear from the others in its product line for ordering and inventory purposes is called a(n)

Accepted Answer

A)  stock ID code. 
B)  QR code. 
C)  NAICS stock code. 
D)  order quantity code. 
E)  stock keeping unit. 
A)  stock ID code. 
B)  QR code. 
C)  NAICS stock code. 
D)  order quantity code. 
E)  stock keeping unit.

Question 9

New-product strategy development calls for INGenius Co.to develop a battery recycler for the business market.Which is the most likely stage of the new-product process in which manufacturing issues regarding the new product become an especially important element?

Accepted Answer

A)  development 
B)  market testing 
C)  idea generation 
D)  screening and evaluation 
E)  business analysis 
A)  development 
B)  market testing 
C)  idea generation 
D)  screening and evaluation 
E)  business analysis

Question 10

Business products are also referred to as __________ products.

Accepted Answer

A)  B2B products 
B)  B2C products 
C)  B4B products 
D)  C3PO products 
E)  B4C products 
A)  B2B products 
B)  B2C products 
C)  B4B products 
D)  C3PO products 
E)  B4C products

Question 11

Introducing new-products sequentially into geographic areas of the U.S.to allow production levels and marketing activities to build up gradually to minimize the risk of new-product failure is referred to as

Accepted Answer

A)  limited rollouts. 
B)  phased rollouts. 
C)  market-product expansion. 
D)  regional rollouts. 
E)  phased commercialization. 
A)  limited rollouts. 
B)  phased rollouts. 
C)  market-product expansion. 
D)  regional rollouts. 
E)  phased commercialization.

Question 12

respect to promotion,which of the following strategies would most likely be used for unsought products?

Accepted Answer

A)  offering consumer and trade sales promotions 
B)  establishing the uniqueness and status of the brand 
C)  generating awareness 
D)  differentiating the brand from competitive brands 
E)  stressing price and availability in advertising 
A)  offering consumer and trade sales promotions 
B)  establishing the uniqueness and status of the brand 
C)  generating awareness 
D)  differentiating the brand from competitive brands 
E)  stressing price and availability in advertising

Question 13

Goods can be divided into __________ goods and __________ goods.

Accepted Answer

A)  functional; aesthetic 
B)  required; desired 
C)  tactile; conceptual 
D)  durable; nondurable 
E)  product; service 
A)  functional; aesthetic 
B)  required; desired 
C)  tactile; conceptual 
D)  durable; nondurable 
E)  product; service

Question 14

Figure 10-3
-Figure 10-3 above represents the seven stages of the new-product development process.Stage 4 is the __________ stage.

Accepted Answer

A)  idea generation 
B)  screening and evaluation 
C)  business analysis 
D)  new-product strategy development 
E)  market testing 
A)  idea generation 
B)  screening and evaluation 
C)  business analysis 
D)  new-product strategy development 
E)  market testing

Question 15

Among consumer products,advertising and wide distribution are especially important for

Accepted Answer

A)  durable goods. 
B)  specialty products. 
C)  nondurable goods. 
D)  production goods. 
E)  semidurable goods. 
A)  durable goods. 
B)  specialty products. 
C)  nondurable goods. 
D)  production goods. 
E)  semidurable goods.

Question 16

Figure 10-2
-According to Figure 10-2 above,column "A" represents a

Accepted Answer

A)  spontaneous innovation. 
B)  continuous innovation. 
C)  discontinuous innovation. 
D)  dynamically continuous innovation. 
E)  evolutionary innovation. 
A)  spontaneous innovation. 
B)  continuous innovation. 
C)  discontinuous innovation. 
D)  dynamically continuous innovation. 
E)  evolutionary innovation.

Question 17

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.

Accepted Answer

A)  services 
B)  goods 
C)  products 
D)  marketing mix 
E)  ideas 
A)  services 
B)  goods 
C)  products 
D)  marketing mix 
E)  ideas

Question 18

of the six ORGANIZATION-RELATED problems that can cause new-product failures is __________.

Accepted Answer

A)  poor product quality 
B)  encountering groupthink in task force and committee meetings 
C)  poor execution of the marketing mix 
D)  bad timing 
E)  incomplete market and product protocol 
A)  poor product quality 
B)  encountering groupthink in task force and committee meetings 
C)  poor execution of the marketing mix 
D)  bad timing 
E)  incomplete market and product protocol

Question 19

a small retail chain hires an accountant to do its income taxes,the retail chain would have purchased a(n)__________ kind of business product.

Accepted Answer

A)  ancillary service 
B)  industrial service 
C)  specialty service 
D)  accessory service 
E)  contractual service 
A)  ancillary service 
B)  industrial service 
C)  specialty service 
D)  accessory service 
E)  contractual service

Question 20

Heavy-duty Rayovac flashlights are sold throughout the United States.However,Philips manufactures the bulbs used in Rayovac flashlights.The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells.This is an example of

Accepted Answer

A)  a tying arrangement. 
B)  reciprocity. 
C)  strategic alliance demand. 
D)  relationship marketing. 
E)  derived demand. 
A)  a tying arrangement. 
B)  reciprocity. 
C)  strategic alliance demand. 
D)  relationship marketing. 
E)  derived demand.

Exam 10: Developing New Products and Services

an organization's perspective regarding its new products and innovations,which of the following new-product strategies has the highest level of risk?

Business analysis refers to the stage of the new product process

Market testing refers to

Among business products,supplies usually consist of

Which of the following best illustrates the concept of derived demand?

product mix refers to

tool available for services when dealing with capacity management is to use __________ to charge different prices during different times of the day or the week to balance supply and demand.

New-product strategy development calls for INGenius Co.to develop a battery recycler for the business market.Which is the most likely stage of the new-product process in which manufacturing issues regarding the new product become an especially important element?

Business products are also referred to as __________ products.

Introducing new-products sequentially into geographic areas of the U.S.to allow production levels and marketing activities to build up gradually to minimize the risk of new-product failure is referred to as

respect to promotion,which of the following strategies would most likely be used for unsought products?

Goods can be divided into __________ goods and __________ goods.

Figure 10-3 -Figure 10-3 above represents the seven stages of the new-product development process.Stage 4 is the __________ stage.

Among consumer products,advertising and wide distribution are especially important for

Figure 10-2 -According to Figure 10-2 above,column "A" represents a

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.

of the six ORGANIZATION-RELATED problems that can cause new-product failures is __________.

a small retail chain hires an accountant to do its income taxes,the retail chain would have purchased a(n)__________ kind of business product.

Heavy-duty Rayovac flashlights are sold throughout the United States.However,Philips manufactures the bulbs used in Rayovac flashlights.The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells.This is an example of

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation,Targeting,and Positioning

Managing Successful Products,Services,and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

Filters

Goods can be divided into goods and goods.